Why a Hedge Fund’s Attempt to Usurp Twitter CEO Jack Dorsey Could Hurt Crypto

2020-3-1 03:30

Yesterday, it was revealed that an activist hedge fund has intentions to remove Twitter’s CEO, Jack Dorsey. Crypto, interestingly enough, could be negatively affected by this move. Hedge Fund Seeks To Oust Twitter CEO, Jack Dorsey While Jack Dorsey has made his love for Bitcoin and crypto a big part of his personal brand over the past few months, he is first and foremost the chief executive of both social media platform Twitter and leading fintech firm Square. Dorsey’s leadership position at Twitter may soon end — if a hedge fund has its way that is. According to a Bloomberg report citing “people familiar with the matter,” the pro-crypto executive may soon be replaced because of Elliot Management Corp, an activist hedge fund, taking a sizable stake in Twitter. The sources explained that this stake allows Elliot to nominate some of its people onto the board of directors, potentially giving them the capacity to move to replace Twitter’s incumbent CEO, which some have criticized in the past for simultaneously operating two companies. May Harm Crypto & Bitcoin As crazy as this may sound, this move could hurt Bitcoin’s and crypto’s prospects moving forward. BTSE’s marketing director Lina Seiche shared the below headlines on Saturday, showing that Elliot Management in 2018 described crypto assets as “one of the most brilliant scams in history.” Uh oh pic.twitter.com/sx9DIogHgC — Lina Seiche (@LinaSeiche) February 29, 2020 Indeed, as Business Insider reported on the matter, the fund told clients in a letter that “cryptocurrencies are nothing except the marketing power of inventors, financiers and others who love the idea of buying a black box.” They went on to bash crypto assets as not just a bubble” and “not just a fraud,” marking one of the most “brutal takedowns” of Bitcoin and its ilk from a Wall Street company. This is relevant to the potential removal of Dorsey from the office of Twitter’s CEO as the company has seemingly shown intent on implementing features that may revolve around Bitcoin. If Elliot Management, with its anti-crypto skew, manages to put someone else in the seat that Dorsey currently resides in, Twitter’s potential attempts at integrating crypto will likely be canceled. Dorsey Still Entrenched At Square While Dorsey’s position at Twitter is at risk, he seems to be perfectly entrenched as the CEO of Square, which just posted an “upbeat earnings forecast,” as MarketWatch put it. This is important because crypto, due to Dorsey’s support of the cryptocurrency and the surrounding ecosystem, has become core to Square’s operations; 50% of the company’s revenues (though only 2% or so of its profits) were derived from the sale of BTC through Square’s Cash App.  Also, the fintech company has its own crypto division, which just recently released its first product: The Lightning Development Kit that should make using the Lightning Network, a Bitcoin scaling solution, that much easier. Featured Image from Shutterstock

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0061389 (-100%)

dorsey jack ceo fund crypto twitter hedge

dorsey jack → Результатов: 126


Фото:

Square Publishes White Paper Detailing Jack Dorsey’s Plans For Decentralized Bitcoin Exchange

Square, a financial services company led by Twitter’s Jack Dorsey, published a guiding document on Friday outlining plans for a decentralized exchange dubbed tbDEX. Jack Dorsey’s DEX Will Provide Users With Fiat Ramps Square is famous for allowing users to buy, sell and spend bitcoin on its Cash App. Now, the firm is expanding its […]

2021-11-21 16:39


Bitcoin Can ‘Definitely’ Become the World’s Main Currency; It’s Poetry: Jack Dorsey

“I believe that the Internet deserves and requires a native currency and that's why I'm such a huge believer in Bitcoin,” said the co-founder and CEO of Twitter Jack Dorsey. Dorsey appeared on the AI Podcast with Lex Fridman, a research scientist at MIT working on human-centered artificial intelligence where he talks about the biggest […]

2020-4-28 22:39


Фото:

How Twitter’s Jack Dorsey became Bitcoin’s unlikely champion

Blockchain has a new unexpected hero: Twitter’s Jack Dorsey. Although up until recently the cryptocurrency community would routinely grill Dorsey over Twitter’s notorious Bitcoin giveaway scam epidemic, the micro-blogging service’s chief has found a new fandom among staunch Bitcoin supporters; and it all began on the Joe Rogan’s podcast, The Joe Rogan Experience.

2019-2-12 20:08


Фото:

Square намерена интегрировать Lightning Network в приложение Cash

В платежное приложение Cash App от Square в ближайшее время может быть интегрировано решение второго уровня Lightning Network (LN) для масштабирования сети биткоина. Генеральный директор Square и Twitter Джек Дорси (Jack Dorsey) сообщил об этом в интервью Стефану Ливера (Stephan Livera).

2019-2-12 14:12


Casa CEO Says Square Cash App Adding Lightning Network Support Would be Huge

The Lightning Network (LN) seems to be having a good moment in social networks. The founder of Twitter Jack Dorsey has been giving several positive comments related to the LN and Bitcoin (BTC). During the last year, the development of this second layer scaling solution for Bitcoin has experienced impressive growth. Now there are more […]

2019-2-12 02:22


Фото:

Jack Dorsey: Lightning Coming To Square Cash App Is ‘When’, Not ‘If’

Twitter CEO Jack Dorsey has all but confirmed that Bitcoin’s Lightning Network will feature in the payment wallet and app built by his other company, Square. Focus On Speed And Efficiency Speaking on the Stephan Livera podcast February 11, Dorsey, joined Lightning Labs CEO Elizabeth Stark in discussing Lightning’s ideals and his personal belief in the protocol.

2019-2-11 19:00


Twitter CEO: It’s not an “If”, It’s a “When” – Square’s Cash App Integrating Lightning Network

The CEO of Twitter and Square, Jack Dorsey, has said that the company’s Cash App will integrate Bitcoin’s Lightning Network and that it’s only a matter of time for it to happen. “When” Not “If” Square’s mobile payment service – the Cash App, available for both Android and iOS, will eventually integrate Bitcoin’s scaling solution […] Twitter CEO: It’s not an “If”, It’s a “When” – Square’s Cash App Integrating Lightning Network originally published on My Bitcoin News by Gines Bravo.

2019-2-11 18:30


Twitter CEO Says Square’s Cash App Integrating Lightning Network is a Matter of Time

The CEO of Twitter and Square, Jack Dorsey, has said that the company’s Cash App will integrate Bitcoin’s Lightning Network and that it’s only a matter of time for it to happen. “When” Not “If” Square’s mobile payment service – the Cash App, available for both Android and iOS, will eventually integrate Bitcoin’s scaling solution […] Twitter CEO Says Square’s Cash App Integrating Lightning Network is a Matter of Time originally published on My Bitcoin News by Gines Bravo.

2019-2-11 18:30


Криптокошельки Samsung и Opera ускорят массовое внедрение биткоина

На прошлой неделе популярный интернет-браузер Opera интегрировал возможность покупки криптовалют в мобильном приложении на базе Android. Это произошло спустя меньше трех месяцев после того, как компания объявила о планах изучения технологии блокчейна.

2019-2-10 20:54


Фото:

Bitcoiners Call For Elon Musk to Accept the Lightning Network Torch

Participants in the ongoing Lightning Torch Bitcoin transaction relay have turned their attention to involving Tesla CEO Elon Musk after Twitter’s Jack Dorsey joined this week. First Dorsey, Now Musk? Lightning Torch, which involves users of Bitcoin’s Lightning Network implementation sending a transaction between themselves, increasing its value with each stop, has gained a loyal following since it launched January 19.

2019-2-7 19:00


Bitcoin Only: Square CEO Jack Dorsey Doesn’t Care for Other Cryptocurrencies on Popular ‘Cash’ App

Square and Twitter CEO Jack Dorsey has made it very clear that Square will only support Bitcoin (BTC) in the foreseeable future. On February 6, in response to some members of the cryptocurrency community inquiring about potential Square integrations, Dorsey said: Nah — jack (@jack) February 5, 2019 He also expressed his enthusiasm towards the Lightning Network, a second-layer scalability solution that enables instantaneous payments on Bitcoin.

2019-2-7 18:13


Генеральный директор Twitter поддержал инициативу Torch Lightning Network

Генеральный директор Twitter Джек Дорси (Jack Dorsey) неожиданно стал героем отраслевых СМИ после того, как присоединился к развитию Lightning Network и заявил, что никогда не будет владеть альткойнами.

2019-2-7 18:01


Twitter CEO Loves Lightning on Bitcoin: is it the Future of Fast, Instant Payments?

On Tuesday, Jack Dorsey, one of the most well-known characters in Silicon Valley, just exposed his four million followers to Bitcoin (BTC) in a surprising turn of events. To the surprise of many, Dorsey, the incumbent chief executive of both Twitter and crypto-friendly Square, two technology upstarts valued at $54 billion collectively, publicly accepted a.

2019-2-6 16:02